Press Release
ITW Announces Reclassification of Divested Businesses as Discontinued Operations
January 8, 2008
GLENVIEW, ILLINOIS - (January 8, 2008) - Illinois Tool Works Inc. (NYSE:ITW) today announced that it will report five businesses
that were divested in 2007 and 2006 or held for sale at the end of 2007 as discontinued operations. As a result, the operating
results for these construction, consumer packaging and automotive machinery and components businesses will be reclassified as
discontinued operations for both the fourth quarter and full-year 2007, and related prior periods.
The reclassification for discontinued operations has no impact on the Company's current forecasted net income per share or
income from continuing operations per share for the fourth quarter of 2007. The details of the Company's current forecast
are as follows:
| Per Diluted Share | |
| 4th Quarter | Full Year |
| 2007 | 2007 |
| Net Income | $.82 to $.86 | $3.32 - $3.36 |
| Less Discontinued Operations | ----- | (.08) |
| Income from Continuing Operations | $.82 - $.86 | $3.24 - $3.28 |
| Increase from 2006 | 12% - 18% | 10% - 11% |
The Company said that over the past 12 months the larger completed divestitures as well as pending divestitures have
collectively reached a more significant level which resulted in these businesses now being reported as discontinued
operations.
The statements regarding the Company's 2007 fourth quarter and full-year forecasts are forward-looking statements
within the meaning of the Private Securities Litigation Reform Act of 1995. These statements are subject to certain
risks, uncertainties and other factors, which could cause actual results to differ materially from those anticipated.
Important factors that could cause actual results to differ materially from the Company's expectations are set forth
in ITW's Form 10-Q for the 2007 third quarter.
ITW is a $14.1 billion in revenues diversified manufacturer of highly engineered components and industrial
systems and consumables. The Company consists of approximately 825 business units in 52 countries and employs some 60,000 people.
CONTACT: John L. Brooklier, 847-657-4104 or jbrooklier@itw.com